Singapore’s benchmark Straits Times Index rose 0.84% on Tuesday to 2,868.02 points. Singapore stocks are likely to follow Asian shares lower on Wednesday after weak data on the US services sector revived investor concerns on the recovery of the world’s largest economy.

Shares of Singapore’s Parkway Holdings (PARM.SI) are likely to be in focus as the July 8 deadline for Malaysian sovereign wealth fund Khazanah (KHAZA.UL) to extend or raise its bid for a majority stake in Singapore’s largest healthcare firm is approaching.

Wilmar International (WLIL.SI) the world’s largest listed palm oil firm, said on Tuesday it was keen to expand its sugar business by setting up operations in Indonesia and Brazil.

Goodpack (GPACK SP), the supplier of intermediate bulk containers used to transport commodities such as rubber, coffee and chestnuts, has priced $100 million of three- year bonds to pay a 4% coupon, according to data compiled by Bloomberg. Goodpack gained 1.9% to $1.64.

Hotel Grand Central (GRAN SP): The owner of hotels in Australia, New Zealand, and Singapore said its Hotel Grand Chancellor unit agreed to buy a hotel in Queensland, Australia, for A$47 million ($55.4 million). Hotel Grand closed 2.8% to 74 cents.

Shipping companies: The Baltic Dry Index, which measures the cost of transporting commodities, dropped 4% in London on yesterday, taking its 28-day loss to 49%. That’s the gauge’s longest losing streak since June 2004.

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, rose 2.1% to $1.48. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, gained 0.2% to $12.78. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, climbed 3.9% to 27 cents.